5 ways you’re using fintech without even realizing

Josh Becker - Feb 2, 2018

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One of the biggest ways in which technology has changed and evolved over the years is how it has benefited our lives. Now, if you think about it, there are so many ways in which we use technology in our daily life. Many of us use our smartphones for business or personal organization; we use Sat Navs for directions, and we use apps to buy things.

Of all the aspects of modern technology, we would class fintech as being the most important. You might not be familiar with the term – it’s a portmanteau of financial and technology – but you’ll definitely have benefitted from it. Any time you use your contactless bank card, or purchase something from Amazon, you’re making use of this kind of technology. Here are 5 ways you’re using fintech without even realizing it.

Mobile payments

You most likely make mobile payments every couple of days – certainly weekly. And sure, you know you’re doing it, but you might not have considered what is involved in this, and how much it impacts upon your life. The wonderful thing about mobile payments is how simpler it makes everything for you; it offers you a wallet-free life. It’s the convenience you’re getting here that is so great, and you may not even realize it.

Moving money with ease

Back in the day, if you wanted to move money, it could be a right pain in the proverbial. This was even true if you wanted to move money between your own accounts. However, these days it is a process that is so much simpler for all concerned. With technology as it is today, you can simply download banking apps, or log in to your telephone banking in order to move money with just the tap of a button. But, that’s not also, fintech has also allowed for things like crowdfunding to become much more prominent.

Investing

The world of investment has almost always been a source of confusion or fear for so many of us. This meant that a lot of people were missing out on investments because they didn’t have much of an idea of what to do, or how to proceed. Fintech has made the opportunities for investment much more expansive, and there is a lot more information that’s going to be available to help you better understand investments.

Keeping tabs on your cash

Another excellent benefit of fintech these days is that it allows you to keep tabs on your money. By this, we mean that you can access your bank balance really easily, and check how much money you have. But, it also means that you’ll be able to keep up to date with investments you have made and see what the share prices might be. Keeping tabs on your finances is really important these days, and fintech makes that so much simpler.

Protecting yourself

Because of the way things are right now, you have to be careful about how much information you allow online. There are so many aspects of technology that can be vulnerable, and you’ve got to protect your information as much as you can. Insuretech is one of the big offshoots of fintech and is crucial for helping you protect your details and information.

As you can see, fintech is one of the most important parts of modern technology, and you need to do as much as you can to utilize it. There are so many different avenues to explore with technology, and these are some of the key reasons why fintech is such a great idea.